Jay-Z reportedly facing a lawsuit from the same people that helped him acquire TIDAL.
Jay-Z's built an empire since stepping into the seen in the 90's. The rapper launched a successful career in music while building his businesses up and now, he's not only one of the most celebrated rappers but one of the most prominent business people in the music industry. The purchase of TIDAL undoubtedly upped his stock. Despite the success of the streaming company, it looks like there's still some issues he has to settle pertaining to the acquisition.
Jay-Z's is reportedly has some legal bills to settle over the acquisition of TIDAL, TheBlast reports. The rapper's company, S. Carter Enterprises, is being sued from Roschier and SEB. They claim they were hired by Hov's company towards the end of 2014 to be their legal representations over the the purchase of TIDAL. They say they were there to “act as financial advisor and handling and settlement agent to Carter Enterprises or its designee for the Tidal deal.” Unfortunately, it seems as if S. Carter Enterprises didn't clear their debt with Roschier and SEB.
S. Carter Enterprises was billed $629K for the legal services and Jay-Z nor the company debated the number. The documents say Roschier received partial payments from S. Carter Enterprises in May and September of 2015 but was ultimately left with a balance of $294K owed. SEB says they charged S. Carter $785, 894 and only received some of those payments with the company owing SEB $304,383. They now claim they haven't received the remaining balance and are seeking to get the rest of what's owed to them in addition to interest and expenses.